Comptroller Kevin Lembo had proposed a legislative measure to benefit
businesses and all taxpayers by establishing a more efficient and effective
analysis of whether hundreds of millions of dollars in economic incentives
provided to businesses are fulfilling their intended purpose.

An Act Concerning Municipal Taxing Districts, the Sales Tax, the
Apprenticeship Tax Credit, Certain Fees and the Tax Credit Report, which Gov.
Dannel P. Malloy has vetoed, would have, among other things, improved the
state's reporting process related to the success of economic development
incentive programs.

"This veto - following a decision to provide $22 million in state funding to
one of the world’s largest hedge funds, which I opposed - is deeply troubling,"
Lembo said. “The state provides hundreds of millions of dollars in tax credits
to Connecticut businesses every year. The state owes it to businesses and all
taxpayers to fully analyze the return on investment that these sizable and
important programs actually deliver in order to assess whether such resources
are fulfilling their intended purpose or, if not, whether state funds would be
better deployed to other economic development or infrastructure investment.

"If objectivity really matters, we always want an independent third party to
evaluate our work. This is why teachers grade tests and students don't just
assign their own grades. Furthermore, this is a terrible loss of transparency
where we need it most."